Korean companies stepping up expansion into Europe amid growing uncertainty in U.S. market - Korea

LS Ecoenergy, a subsidiary of LS Cable, a major electric cable manufacturer, is building a high-voltage direct current (HDVC) submarine cable factory in the UK. LS Ecoenergy is the UK's Global Connect
The joint venture, LS Eco Advanced Cable, was established with the Group with an investment of approximately 1.63 trillion won (approximately 169.832 billion yen).
LS Cable is also investing about 1 trillion won (about 104.1918 billion yen) in the United States to build an undersea cable factory, but the imposition of tariffs
The company's CEO, Koo Bon-kyu, said, "Initially, most of the products from the UK factory will be supplied to Europe," revealing plans to prioritize the European market over the US.
EcoPro BM, a subsidiary of EcoPro, a secondary battery material company that handles cathode materials, is currently building a cathode material factory in Hungary. It plans to start full-scale operation in the January-March quarter of 2026.
The company said it will adjust the pace of its investment in Canada due to the uncertainty of the growth potential of the U.S. market. Construction machinery manufacturer Doosan Bobcat expects its sales in the North American market to reach 75% of its total by 2024.
However, in the January-March period, operating profits fell 38.6% due to growing concerns about the economic slowdown in the U.S. As a result, Chairman Park Jong Woo said, "The European market is the second largest market supporting our growth.
He has his sights set on Europe, stating that it is "a great opportunity."